Greenwood To Manage New Renaissance Hotel

Will Anchor $300 million development in downtown Allentown, PA

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. December 11, 2013

Allentown, PA - December 11, 2013 - Greenwood Hospitality Group announced today that it will manage the new Renaissance Hotel, a centerpiece of the Center City Lehigh Valley development in downtown Allentown, PA. Greenwood principal Thomas Conran made the announcement.

As one of the largest urban revitalization projects in the United States, Center City Lehigh Valley will completely transform downtown Allentown, making it a regional hub for culture, business and metropolitan living. A new 8,500-seat sports and events arena that will be home to the Philadelphia Flyers' top development team, the AHL Lehigh Valley Phantoms, will be the centerpiece of the $300 million mixed-use development. The project will also include up to 350 new luxury apartments, 650,000 square feet of Class A office space and 50,000 square feet of upscale retail and restaurant space.

The Renaissance Hotel will anchor the project. Its lobby will incorporate the Historic Dime Bank Building, a six-story, art deco building that was constructed in 1925 and appears on the National Register of Historic Places. The hotel will feature 180 luxurious guest rooms, 20,000 square feet of state-of-the-art event and meeting space, an upscale restaurant and bar and numerous additional amenities.

“We are thrilled to be part of the team that will make both this hotel, and this project, models for successful urban redevelopment for cities across the country,” said Conran. “We will build on our strong track record with Marriott and our experience in managing other upscale, boutique hotels in Marriott's portfolio, with our goal being to position the City Center Lehigh Valley Renaissance as 'Best In Class' and exceed all quality and service standards.”

About Greenwood Hospitality Group

Greenwood Hospitality Group is engaged in the acquisition, repositioning and management of upscale, full-service and select-service hotels throughout the United States. Greenwood's portfolio includes over 1,900 rooms and 1,200 employees and is based in Denver and with offices in Hartford, CT, Harrisburg, PA and Houston, TX. Greenwood includes industry veterans and principals Tom Conran, Aik Hong Tan, Bill Zollars and Bill Kohl, who together have more than 125 years of industry investment and management experience. The company's vision is to set new excellence standards regarding the relationship it forges with its investors, property level associates, and the communities in which they work.

About Renaissance Hotels

Renaissance Hotels encourages guests to Live Life to Discover ℠ at more than 155 hotels in 35 countries around the world. Each hotel is unique and every stay offers an opportunity to explore local discoveries exclusive to the destination. At every hotel, Renaissance Navigators are local experts ready to assist guests in discovering local flavors and activities. Signature RLife LIVE entertainment events are designed to showcase emerging talent in music, the arts, culinary and more to inspire discovery. R.E.N. Meetings offers groups an experience beyond the traditional meeting rooted in creative sensory meeting design, RLife LIVE networking events and custom curated local Navigator excursions. At Renaissance Hotels, we work to ensure that every trip is transformed into an eye-opening, unforgettable journey. You spend your life working, you should discover the world as you go. To discover more visit www.renhotels.com.

About City Center Lehigh Valley

City Center Lehigh Valley is a major mixed-use development that is helping transform downtown Allentown, Pennsylvania into one of America's most vibrant urban communities and a regional center of excellence for business, culture and metropolitan living. With Allentown's future arena, PPL Center, at its core, City Center is developing three Class A office buildings, a full-service hotel, luxury apartments, upscale retail space and loft-style office space - an investment of more than $300 million - by early 2015. Over the next five years, City Center will invest a total of $500 million in downtown Allentown. Located in Pennsylvania's Neighborhood Improvement Zone, City Center is able to offer highly competitive lease terms to businesses that choose to help revitalize the Lehigh Valley's urban core. Visit citycenterlehighvalley.com to learn more.